Notes to SEFA
Title: N/A
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Maroa Forsyth CUSD 2. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awares. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.The Schdule of Expenditures of Federal Awards has been presented on the modified cash basis of accounting. Accordingly, expenditures are recorded when paid.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
N/A